Let’s Answer Some Common Financial Questions

12/14/23 • 20 min

Candid Conversations: Retirement Talk with Ryan Cravitz

As we close in on the end of the year, we want to finish up by answering questions that people have asked us recently. We’ll cover key financial planning topics like retirement withdrawal rates, investing in CDs, advisor fees, Social Security and more.

Here’s some of what we discuss in this episode:

Is it okay to take a short-term loan to get funds for a closing while you wait for your current home to sell?
Is a 6% withdrawal rate too much in retirement and how do you figure out that number?
CDs have been a good investment in the current interest rate environment but will that continue?
What should you expect from a financial advisor before you pay them any fees?
Can you still take Social Security benefits while your spouse is working?

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If you have any questions, you can contact us online here: https://cravitzfinancial.com/
Email: [email protected]
Call: 714-462-9155
Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

Here’s some of what we discuss in this episode:

Is it okay to take a short-term loan to get funds for a closing while you wait for your current home to sell?
Is a 6% withdrawal rate too much in retirement and how do you figure out that number?
CDs have been a good investment in the current interest rate environment but will that continue?
What should you expect from a financial advisor before you pay them any fees?
Can you still take Social Security benefits while your spouse is working?

Previous Episode

The Universal Truths of Retirement (PART 2)

Today we’re going to finish up our two-part conversation that will juxtapose the individuality of retirement plans with the foundational principles that remain constant regardless of who you are. These 10 total truths need to be accounted for when you build a plan for retirement, and we’ll talk about how and why they could have an impact on your financial future.

Here are the retirement truths we discuss in this episode:

Diversification is Essential for Risk Management.
Emotions Can Be an Investor's Worst Enemy.
Tax Implications Matter.
Retirement Doesn't Mean Complete Disengagement from Work.
Estate Planning Isn't Just for the Wealthy.

Next Episode

Important Retirement Updates & Changes for 2024

It’s not always easy to keep up with rule changes and updates when they happen each year, but we like to stay on top of anything that might impact your retirement planning. In today’s episode, we will bring you up to date on what’s new for 2024. From tax brackets to Social Security to 529 plans, we’ll cover some key planning items that everyone will want to know about.
Here’s some of what we discuss in this episode:

You’ll get an increase to both your standard deduction on taxes and how much you can make in each tax bracket.
The Social Security Cost of Living Adjustment isn’t has high as it was a year ago but still a nice bump.
What you need to know about the increase in Medicare costs.
529 plans can start rolling money into a Roth but there are some restrictions to be aware of.
There is a little more flexibility to withdrawing from 401k accounts early.
What you need to be aware of with Required Minimum Distributions in 2024.